Focus Partners Wealth Takes Position in Atlassian Co. (NASDAQ:TEAM)

Focus Partners Wealth purchased a new position in Atlassian Co. (NASDAQ:TEAM - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,108 shares of the technology company's stock, valued at approximately $756,000.

A number of other large investors have also recently made changes to their positions in TEAM. JPMorgan Chase & Co. grew its position in Atlassian by 5.6% during the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company's stock valued at $393,588,000 after buying an additional 131,621 shares during the period. Park Avenue Securities LLC grew its position in Atlassian by 16.7% during the fourth quarter. Park Avenue Securities LLC now owns 4,757 shares of the technology company's stock valued at $1,158,000 after buying an additional 682 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in Atlassian by 23.9% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 2,316 shares of the technology company's stock valued at $564,000 after buying an additional 447 shares during the period. Merit Financial Group LLC bought a new stake in Atlassian during the fourth quarter valued at approximately $726,000. Finally, Premier Path Wealth Partners LLC bought a new stake in Atlassian during the fourth quarter valued at approximately $314,000. 94.45% of the stock is currently owned by institutional investors.

Insider Activity

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $297.51, for a total transaction of $2,364,609.48. Following the transaction, the chief executive officer now owns 214,596 shares of the company's stock, valued at approximately $63,844,455.96. This trade represents a 3.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Gene Liu sold 121 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $214.88, for a total transaction of $26,000.48. Following the completion of the sale, the chief accounting officer now owns 51,360 shares in the company, valued at $11,036,236.80. This represents a 0.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 295,003 shares of company stock valued at $66,087,944. 38.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. StockNews.com lowered shares of Atlassian from a "buy" rating to a "hold" rating in a research report on Monday, March 31st. JMP Securities reiterated a "market perform" rating on shares of Atlassian in a research report on Friday, January 31st. Barclays dropped their price target on shares of Atlassian from $350.00 to $260.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Stephens dropped their price target on shares of Atlassian from $255.00 to $221.00 and set an "equal weight" rating for the company in a research report on Friday, May 2nd. Finally, Jefferies Financial Group dropped their price target on shares of Atlassian from $330.00 to $262.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Five equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $285.29.

Atlassian Price Performance

TEAM stock traded down $5.32 during trading on Wednesday, hitting $209.17. 1,718,039 shares of the company's stock traded hands, compared to its average volume of 2,107,664. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The business has a fifty day simple moving average of $213.33 and a 200 day simple moving average of $247.04. The stock has a market capitalization of $54.91 billion, a price-to-earnings ratio of -156.10 and a beta of 1.06.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the firm posted $0.89 earnings per share. The business's revenue for the quarter was up 14.1% on a year-over-year basis. As a group, research analysts expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Atlassian Company Profile

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.